TriBridge Starts Conversion of 1065 Midtown in Atlanta to Condos
- Apr 28, 2015
Atlanta—Sales have kicked off at 1065 Midtown, the final step in the conversion of 52 units of rental apartments into condos in the Midtown district of Atlanta. The residential units are on the top 11 floors of the Loews Atlanta Hotel building.
Daniel Corp. originally developed 1065 Midtown, including the hotel and the apartments, as part of its 12th & Midtown project. Later the company sold the apartments to TriBridge Residential, which is undertaking the conversion as current leases expire. NeoLuxe Realty Group, an entity within Atlanta Fine Homes Sotheby’s International, is marketing the condos on behalf of TriBridge.
The conversion comes against the backdrop of a strengthening for-sale residential market in this part of Atlanta. Prices for in-town Atlanta condos have ballooned 71 percent in the last four years, according to the real estate analyst Haddow & Co., from an average of $140,000 a unit to $240,000.
Prices at 1065 Midtown will be considerably above average, beginning in the $600s. It’s always been an upscale property: As apartments, rents averaged from about $2,500 to almost $7,000. Units vary in size between 1,180 square feet and 2,820 square feet.
All homeowners will have access to Loews Atlanta Hotel amenities, such as the Saltwood restaurant and Exhale spa, in-room private chef/catering, room service, housekeeping, as well as a 24-hour private valet and business center. Amenities not part of the hotel include a private lobby and clubroom, rooftop pool, a 24-hour full-service concierge, as well as private parking.